China to invest more in Zambia


The Chinese government has pledged to increase investments in the Zambian economy to over US$3 billion.


And the Chinese community in Zambia will on February 7, 2015 celebrate the annual Chinese Spring Festival Temple Fair at Levy Junction in Lusaka.


Chinese Ambassador to Zambia Yang Youming said during a press briefing in Lusaka that his country will deepen bilateral trade with Zambia.


Mr Youming said the continuity of government following the peaceful January, 20 presidential by-elections has provided yet another opportunity for China to invest extensively in Zambia’s economy.


Mr Youming said Zambia should expect more of Chinese investment in 2015 in various sectors of the economy especially in mining, agriculture and tourism.


The ambassador noted that Chinese investment in Zambia stands at US$3 billion and that the figure will increase once new Chinese investments come into the country.


He expressed optimism that the two countries will strengthen and continue to enjoy excellent relations.

And Mr Youming said the Chinese Spring Festival Temple Fair will mark the Lunar New Year for the people of China.


He said the fair will provide an opportunity to Chinese and Zambian people to

promote friendship, and engage in cultural exchange and mutual understanding.


He said Zambian and Chinese artists will grace the festival that will also showcase a myriad of Chinese cuisine and interactive games.


The Chinese community in Zambia introduced the Spring Festival Temple Fair in 2013 to celebrate their Lunar New Year which falls on February, 29.

The Spring Festival which is also referred to as the Year of the Goat is also celebrated in countries like Thailand, Indonesia, Malaysia, Philippines as well as China towns found in many other countries.